Recently, the Department of Environment and Natural Resources (DENR) released data showing that the value of metal ore production in the Philippines grew by 7.28 per cent in the first three quarters of 2023, a growth that was mainly due to the strong performance of nickel ore and its nickel products.
In terms of production, nickel ore production increased by 24.08% to 28.89 million tonnes from 23.29 million tonnes in 2022 and accounted for the largest share of the total value of metal ore production at P89.99 billion, or 47.6% of the total value. This growth reflects the Philippines' strong presence in the nickel sector and growing demand.
Meanwhile, China remains the major trading partner of Philippine nickel, while Indonesia, the world's largest nickel producer, has become the country's newest trading partner in minerals with total shipments of 102,100.72 tonnes. This is further proof of the Philippines' international standing and influence in the metal minerals sector.
Aside from nickel ores, gold and copper also showed strong growth. Gold production was valued at P77.65 billion, or 41.07 per cent of total metal production, while copper production also increased, accounting for 9.94 per cent of total production. These figures show the diversification of the Philippine metal mining sector.
[Source - CJNN].
